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Registration number: 12942663

Hanson Projects Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Hanson Projects Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Hanson Projects Ltd

Company Information

Directors

Mrs Adrienne Louise Hanson

Mr Paul Hanson

Registered office

3 Lichfield Drive
Great Haywood
Stafford
Staffordshire
ST18 0SX

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

Hanson Projects Ltd

(Registration number: 12942663)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,765

3,816

Current assets

 

Debtors

44,695

32,136

Cash at bank and in hand

 

101,726

89,845

 

146,421

121,981

Creditors: Amounts falling due within one year

(74,039)

(99,554)

Net current assets

 

72,382

22,427

Net assets

 

86,147

26,243

Capital and reserves

 

Called up share capital

5

2

2

Retained earnings

86,145

26,241

Shareholders' funds

 

86,147

26,243

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 February 2024 and signed on its behalf by:
 

.........................................
Mr Paul Hanson
Director

 

Hanson Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Lichfield Drive
Great Haywood
Stafford
Staffordshire
ST18 0SX

These financial statements were authorised for issue by the Board on 16 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hanson Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

33.33% Straight Line

Plant & Machinery

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Hanson Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

-

4,872

4,872

Additions

11,557

1,711

13,268

At 31 May 2023

11,557

6,583

18,140

Depreciation

At 1 June 2022

190

1,624

1,814

Charge for the year

367

2,194

2,561

At 31 May 2023

557

3,818

4,375

Carrying amount

At 31 May 2023

11,000

2,765

13,765

At 31 May 2022

568

3,248

3,816

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A Shares of £0.02 each

50

1

50

1

Ordinary B Shares of £0.02 each

50

1

50

1

 

100

2

100

2

6

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £794.00 (2022 - £895.08) per each Ordinary A Shares

 

39,700

 

44,754

Interim dividend of £802.00 (2022 - £1,293.94) per each Ordinary B Shares

 

40,100

 

64,697

   

79,800

 

109,451

7

Related party transactions

 

Hanson Projects Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

22,370

8,155

Contributions paid to money purchase schemes

32,000

14,000

54,370

22,155